Brokerages Cut Targets For BYD, Sands China, Longfor And Others

Brokerages have revised target prices and ratings for a range of Hong Kong-listed stocks, including BYD, Sands China, Longfor, China Overseas, China Resources Land and China Resources Mixc Lifestyle, according to ETNet. Among the changes, Daiwa cut its target for BYD to HK$119 from HK$130 and kept a buy rating. Morgan Stanley lowered targets for Sands China, Wynn Macau and MGM China, while upgrading Galaxy Entertainment to overweight from equal-weight. JPMorgan cut targets for Longfor, China Overseas, China Resources Land, China Resources Mixc Lifestyle, Shimao and China Jinmao, and downgraded Longfor and China Jinmao to neutral from overweight.